Treasury, a bitcoin treasury company backed by US billionaires Cameron and Tyler Winklevoss, said it will list in Amsterdam through a reverse takeover of Dutch investment firm MKB Nedsense.
The company, which has more than 1,000 bitcoin in its digital coffers, has raised €126 million ($147 million, £109.5 million) in a private round led by Winklevoss Capital and Nakamoto Holdings.
It said the listing aims to provide European bitcoin investors with more options in a market where access remains limited, despite a growing list of bitcoin treasury companies in Europe and the UK, following the model of US groups such as MicroStrategy, Marathon Digital and Twenty One.
The reverse listing values the Winklevoss-backed company at a 72% premium to MKBN’s July 11 closing share price of €0.07, with a post-consolidation share price targeted at €2.10.
An extraordinary general meeting is being planned to gain shareholder approval, after which the entity will be renamed Treasury NV and is expected to trade under the ticker TRSR.
The announcement comes after bitcoin retreated from a recent all-time high above $120,000.
The Winklevoss twins are famous for their lawsuit against Mark Zuckerberg, who they claimed stole their idea for Facebook, though they have since gained acclaim as early and substantial investors in Bitcoin, leading to them becoming some of the first known cryptocurrency billionaires.